TLDR
- Michael Saylor posted his orange chart Sunday, a pattern that has come before Monday buy reports.
- Strategy held 848,517 BTC as of Oct. 25, up 26% this year.
- Bitcoin traded near $77,804, about 3% above Strategy’s $75,446 average cost.
- U.S. spot Bitcoin ETFs lost $643.2 million on Oct. 30.
- Strategy posted record Q3 operating income of $20.91 billion.
Strategy (MSTR) is in focus after Michael Saylor posted his orange chart on Sunday. Bitcoin traded near $77,804 at the time, up 0.45% over 24 hours.
The company’s STRC preferred stock closed Friday at $99.13, down 0.83%. The reports did not give a closing price for MSTR.
Saylor wrote, “We found room for even more orange.” The chart showed 848,517 BTC, worth about $66 billion, across 119 purchase events.
The post does not confirm a buy. Saylor has teased purchases on Sundays before, with details following on Monday.
On Oct. 11, his chart gave a similar hint. The next day, Strategy disclosed a 250 BTC purchase for about $21.5 million.
Strategy did not buy or sell Bitcoin from Oct. 19 to 25, per its SEC filing. Its last purchase was 267 BTC on Oct. 19.
Q3 results and the bull market call
Strategy reported record third-quarter operating income of $20.91 billion on Oct. 29. Almost all of it came from an accounting gain on its Bitcoin.
Net income was $19.53 billion, up from $2.79 billion a year earlier. Revenue fell 3% to $125.4 million.
Saylor said, “We’re at the beginning of the next bitcoin bull market.” He cited bank acceptance and renewed institutional demand.
Holdings are up 26% this year. BTC Yield, which tracks Bitcoin per diluted unit, was negative 3.7%.
In the quarter, Strategy bought 7,218 BTC for $588.1 million and sold 5,552 BTC. That left a net gain of 1,666 coins.
Saylor’s chart showed an average cost of $75,446 per coin. At Sunday’s price, Bitcoin sat about 3% above that level.
Bitcoin price and ETF outflows
Bitcoin fell to around $76,100 after the Oct. 29 Binance hack. It had struggled to hold $80,000 earlier in the week.
U.S. spot Bitcoin ETFs lost $643.2 million on Oct. 30, according to Bitfinex. October ended with about $516 million in net outflows.
BlackRock’s IBIT lost $233.7 million, Fidelity’s FBTC lost $201 million, and ARKB lost $129.5 million. IBIT still finished October with about $932 million in net inflows.
Strategy spent $204.9 million on STRC buybacks during Oct. 19 to 25. Cash stood at $242.4 million, plus a separate $4.83 billion reserve for dividends and debt interest.
Bitcoin was trading at $77,924 at the time of the latest report. A Monday filing, if one comes, would show the coins bought, the price paid and how it was funded.
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